The mail order unit of KarstadtQuelle AG, the German retailing giant, posted a loss of 31.9 million euros ($42.5 million) last year after net income of 4 million euros ($5.3 million) in 2005, which excluded discontinued operations as well as the Neckermann brand, according to wire service reports.
The Essen-based company reported net income of 345.6 million euros ($460 million), compared with a loss of 316.5 million euros ($422 million) in 2005.
The company will be renamed Arcandor after 125 years with the Karstadt name.